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Search Results 0 to 10 of about 11 (some duplicates have been removed)
that is not the whole story? >>guest: you are right. people forget, and i forgot that obamacare, the big health care reform bill had half a trillion of new taxes over the next 10 years including tax on health insurance companies on investment income and hospitals and pharmacy companies and on employers so it is a major tax increase, the biggest ever in the last 25 years. people forgot about it so when democrats say to make it balances we need a tax increase, what we wrote today, didn't you just pass a big tax increase last year? you want $1 trillion increase on top of that? >> and so many of the tax increases do not come online until years down the road, so, although it was passed, and you think you may not have been slapped with it yet, in 2013 and 2015 and 2018 you will be. >>guest: gentleman that is why people for got. they did not take place until 20 thin or 2014 and some in 2018 for the health care plan. the question we have to ask, then, can the economy really get out of the rut with 9.2 percent unemployment and 14 million unemployed with $500 billion tax increase already in the works and, the
and that could seem like a big hit, but close to 97 points today, but obviously celebrated by day's end but with the losses here, we are battling reaction to not only no progress on talks in washington, but not much good news on the economy, in general, with more indications of that from a hot -- host of companies including merck laying off 13,000. and at 6:00 p.m. eastern, we are waiting for two hours when the house of representatives will take up the boehner measure. that is the measure that will include a balanced budget amendment to make it more palatable for conservative members who did not quite fine it their cup of tea. the tea partyers were not fond of it and even if john boehner gets the vote what happens after that? harry reid has all but said he will table it, and it is not going anywhere, and he has his own plan in the senate which will be introduced this weekend, which is not palatable to all of his members and may not make the 60 vote he needs and after the senate would not get any support in the house of representatives. so we are at loggerheads. reaction from republican
savings, those are probably phony but here the important thing, no tax increases this is a big development in this budget story. [ talking over each other ] >> neil: you are making the assumption that there isn't an add-oncoming. you are right, the deal itself, [ talking over each other ] >> neil: don't jump the again. more than a trillion coming out of the wars. republicans have factored in that math as well. do you think given your point of view, that others will jump onboard of as the best thing out there? >> i think this is the basis for a deal. we have to jiggle the numbers, you are right. a lot of numbers in reid's budget proposal are phony. i think it is significant. weeks ago, harry reid put forward a budget with two trillion of tax increases, now he's at zero, that's a big deal. >> neil: we've been mentioning the markets and how they've held on. is that because they are factoring in a deal at the last minute or that they are okay, no matter what happens? >> i think the market has come to the perception we will have a deal. i think we are going to get a deal within 48 hours of augu
will this guy vote? he will tell us. and only us. look at the corner of wall and broad on the big board the dow jones industrial average down 6 2 1/2 points. we focus on the markets for good reason, we are led to believe they are sort of waiting to see what comes out of washington. but, are we making a mistake if we go the other way and conduct national policy, political long term debt policy based on the market? charles says "be careful." >>guest: be very, very careful. you have a couple of things going on. first the scare tactics that everyone is using in washington, you remember when the tarp vote did not go through and the dow jones industrial averages with down 700 points. do you want that to happen? president bush signed tarp into law october 3rd, 2008, march 9, the dow jones industrial average was off 4,000 points so that was not a panacea. unemployment got worse. our economy got worse. we have to be careful about worrying about the knee-jerk reaction. because they have said it so many times and because harry reid compared it to the great depression and armageddon there will be self self
, buddy. big money guys are begs these gives to get in. what does that say? will it be lights out when we plug in? ly. casey mears, driver of the number thirteen geico toyota camry. geico, saving people money on more than just car insurance. on a track that simulates the world's toughest roads. ♪ [ tires screeching ] ♪ if it can survive this drive... ♪ it can survive yours. the nissan altima. innovation that lasts. innovation for all. ♪ >>neil: an only podium in the house of representatives and the s&p, the credit rating agency that missed the financial meltdown a few years back, but that is just details, members of the s&p are meeting with at first what was to be republican members of the house of representatives but now citizenned to all republicans and i don't if that includes the senate, probably not, but they are going over what happens if the event of default and what is at risk. many argue that happens annually if the debt ceiling is not raised and others disagree. and freshman congresswoman put this together and will be my special guest at 6:00 p.m. to detail what happene
is not involved in the shut down talks this year not playing big role here. and people are getting jealous that the president is meeting with john boehner and on republican side a lot of the tea party guys are not trusting john boehner, they are skeptical that he is going to blink and both the left and the right are so entrenched here and i don't know how someone is not going to be badly politically damaged with whatever tell they come up with and, again, why see the votes at this time. how do they get there? john boehner has called this a rubic's cube. it is difficult to get a solution. >>neil: but they are aware of the deadlines and this is the day that the administration argued you had to get the agreement in place so you could avoid the august 2nd potential default and by that we just mean that you hit up against the limit and it doesn't mean that a downgrade, per se, or that we go and solve it, there is a higher risk of that. we will play that out. we hit that deadline, if we break that deadline, how soon before you think the credit rating answers react? >>guest: they have been aggres
Search Results 0 to 10 of about 11 (some duplicates have been removed)